The Palatka daily news. (Palatka, Fla.) 1884-1888, 1887-06-17
LITTLE BUSINESS In WHEAT DONE.
THE CHICAGO FERMENT STILL
BOILING AND BUBBLING.
Appeal TO the courts-kershaw Better at Promis'
ing Than Paying Near Options Very Quiet
but Still at a Low Mark.


for margins upon them to-day, notwith-
standing their failure to go through the
clearing house yesterday. The money is
in the American Exchange National
Bank to their credit, and will be checked
against as fast as demands are presented,
so that if the stability of the market is
dependent upon that firm meeting its
obligations, as many claim, no violent
fluctuations can be expected. The an
nouncement of that firms complete sol
vency comes in an official way, and
from sources that cannot be questioned,
although permission to use names is de-
MED. The parties making the statement
stand close to the firm and to the officers
of the bank in which the money is depos-
tied and are thoroughly familiar with
the intentions and resources of Messrs.
Joseph w. Wiltshire and j. B. Hoyt,
representatives of the Cincinnati end of
great wheat deal.
A notice was posted up in the window
of Kershaw & Cos. office this morning
stating that the firm expected to pay all
difference to-day. When the market
oppened at 9:30 O'Clock the first sales
were at II cents for June and % cents
for July. The latter then sold down to
72a cents, but quickly went up to 13s
cents, and at 9:3S a. IN. is 73.
THE FAILURES.
The failures of yesterday numbered
fifteen. They were as follows, with an
- al. 4
Co., 81, 200; III. X. Matthews, 800, 900;
}. A Edwards & Co., $4,000; Nj. b.
Crofts & CO., $4,000; b. j. McCleary &
Co., $25, 900; Pickering & Co., $20, 1000;
l.. ID. Eldredge & Co., $4,000; Gregg,
Son & Co., $4,000; Hard Brothers x
Co., $4,000; Hibbard & Co., $4,000;
M. S. Robinson & Co., - 900; Yoursh &
Brearly, 5000; s. G.. Orr & Co., 81, 900;
tctal, 1851 900.
Including the failures of the day be-
fore, nj. Rosenfeld & Co. Hamill & Brien
and f. w. Bailey & Co., there is a total of
nineteen, with aggregate liabilities
approximating $2.O0O,0OO. Some of
these failures were caused by the inabil-
ity of parties to reach their outside GUS
toners, while others We're caused by the
failure of Rosenfeld & Co., and the sus-
pension of payments by Kershaw & Co.
1t is said that in majority of cases the
embarrassed firms will come out all right
as soon as their trades can be settled,
and that in one or two instances the
books will actually show profits. In ad-
dition to those whose failure was
brought about by either of the causes
given. there are some who were i'm the
deal on their own responsibility and
simply got caught where they could not
help themselves.
ELEVEN O'CLOCK WILL DECIDE.
Following is the notice in Mr.. Ker-
shaw's window. 1t is in Mr.. C.. j. Ker-
shaw's handwriting:
Nothing can be decided until IL
O'Clock. We are promised by that time
positive knowledge whether remittances
are on the way which we are led to be-
iieve will come"
EVERYTHING DEFENDING ON KERSHAw.
1OA. M.-The exciting scenes of yes
terday and the day before were not w.t.
messed at the opening of the Board of
Trade this morning. A few people who
had gathered in the galleries before the
opening, grew tired of the calm which
prevailed and departed. 1t was given
out that Kershaw would announce
Mt IL O'Clock whether he would be
abe to meet the claims against
him or not. 1t is generally conceded
that everything depends ON Kershaws
action Some members are of the
opinion that he will pull through all
right, but the majority are very doubt
full on the subject. Scarcely anything
Is being done and prices are barely
tluctuating at slight fractions. There
are rumors of impending failures, but
everything awaits the announcement to
be made by Kershaw at I 1 O'Clock. In the
standstill. July wheat opened at 73c
and has fiuctuated between that figure
.4i 7aic.
LISTLESS EXPECTANCY.
IL A. M.-The appearance which the
wheat pit presents at this hour is ludi-
which has prevailed during the past few
days. A few members, dealers in a
small way, have taken possession of the
pit and are shouting themselves hoarse in
their efforts to buy or sell thousand or
two bushels of wheat. No one seems to
care to transact any business-all is list
less expectancy. The more prominent
dealers are strolling about the hall or
sitting in cool window recesses gossiping
about the situation.
ANOTHER FAILURE
just at the close of the morning ses-
sion John j. Bryant & Co. announced
that they desired all their trades be
closed. This is a heavy failure, involv-
ing as much as that of b. j. McCleary
yesterday. No exact estimate of the
liabilities can be given, but it is thought
it will amount to $l5O,OOO. T.. e. Beld-
ing x Co., who suspended yesterday and
then announced their solvency, again re-
quested that their trades be closed out.
At the close, although nothing definite
had been heard from Kershaw, the feel
ing of confidence became general and
the members at once began trading
moderately and prices became firmer.
July wheat advanced slightly, closing at
734c, and June closed at 71sc.
A MINNEAPOLIS FIRM FAILS.
A special from Minneapolis says that
Griffith, Marshall & Co., grain brokers,
have suspended, owing to their close